ITD Cementation India Limited has informed the Exchange regarding Resignation of Mr. Piyachai Karnasuta as Chairman of the company w.e.f. May 29, 2025.
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Mr. Piyachai Karnasuta has resigned from the position of Chairman of ITD Cementation India Limited, effective May 29, 2025. Mr. Karnasuta is part of the Karnasuta family, which is associated with the company's promoter group, Italian-Thai Development. The company has not yet announced his replacement in this filing. This is a leadership change at the board level and will be relevant to investors tracking promoter involvement in the company.
The exit of a promoter-group Chairman may signal a shift in the promoter's strategic involvement with the Indian subsidiary. Shareholders should watch for clarity on succession and whether the promoter group's stake or influence changes going forward.